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The Heathview Recognized by FRPO as the 2015 Rental Development of the Year

MISSISSAUGA, ON, Dec. 7, 2015 /CNW/ - The Heathview took top honours for the 2015 Rental Development of the Year as announced by the Federation of Rental-Housing Providers of Ontario (FRPO). The FRPO MAC Awards recognize Ontario's top landlords and property managers for excellence in the rental housing industry.

The Heathview, owned by Morguard Corporation (TSX: MRC), is a 30-storey, twin-tower, multi-unit residential development located in Forest Hill Village – one of Toronto's most sought after neighbourhoods. The transit-oriented development (TOD) is within steps of the St. Clair West subway and St. Clair streetcar line.

"The Heathview is a testament to Morguard's ability to meet market demand for condo-quality rentals through a sustainable, long-term value investment," said K. Rai Sahi, Chief Executive Officer, Morguard Corporation. "As a LEED Candidate, we are committed to developing projects that use less energy, minimize waste, and provide green spaces."

The Heathview replaced two end-of-life multi-unit residential buildings with a new Class A LEED-designed project that has revitalized the community. This new development is the first purpose-built rental in 40 years in this prime neighbourhood and supports market demand for a luxury rental product in short supply. Equally important, it offers an attractive alternative to condominiums.

About Morguard CorporationMorguard Corporation is a real estate company, which owns a diversified portfolio of 172 multi-suite residential, retail, office, industrial and hotel properties comprised of 17,225 residential suites, approximately 16.2 million square feet of commercial leasable space and 1,056 hotel rooms. Morguard Corporation also owns a 48.8% interest in Morguard Real Estate Investment Trust and a 48.7% effective interest in Morguard North American Residential Real Estate Investment Trust. Morguard also provides advisory and management services to institutional and other investors. For more information, visit the Company's web site at www.morguard.com.